It is anticipated that high investment in healthcare and delivering vaccine packaging strategies would support the consumption of vaccine packaging in several forms. For starters, ApiJect Systems Corp. is ready to start manufacturing 45 million prefilled syringes a month in the battle against COVID-19 in November 2020. Also, players pursue diverse tactics, such as mergers and acquisitions, and concentrate on R&D programs to extend their presence and portfolio.
DUBAI, UAE / ACCESSWIRE / February 17, 2021 / FMI vaccine-packaging-market projects this industry to reach a high valuation during the forecast period of 2020-2030, which will be represented by a graph of positive growth, with a noteworthy CAGR of 13.1%. the growth is further boosted by the growing incidence of infectious diseases such as Ebola, hepatitis, influenza, swine flu,
"The global image of vaccine R&D reveals that the U.S., the U.K., China, Japan, France, and Germany are home to some of the major organizations developing new vaccines and will continue exhibiting high demand for vaccine packaging containers such as vials and ampoules from clinical research centers and biopharmaceutical organizations." says the FMI analyst.
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Vaccine packaging market - Important Highlights
? Demand for vials is expected to increase over the forecast period owing, among other things, to higher doses per vial power, non-reactive to the substance.
? According to end-users, as a result of a growing demand for vaccines, the diagnostic centers are anticipated to be at the forefront especially now for Coronavirus vaccination programs.
? in terms of material type, Owing to its inertness glass packaging is projected to account for its commanding share of the demand for vaccine packaging.
? Europe currently dominates the worldwide vaccine packaging industry. By 2021, revenues in the European region are projected to reach 1/4th of the overall production. Demand from Germany is projected to be considerably strong inside Europe.
Vaccine packaging market - Drivers
? Consumption of vaccines is likely to rise due to the detrimental effects of the novel coronavirus. It is projected that this would help promote the development of packaging for vaccines.
? The government spends billions of dollars a year on research and production of new medicines around the world to purchase and administer vaccines which is a key driver for the Vaccine packaging market.
?The growing prevalence of infectious diseases such as Ebola, measles, pneumonia, swine flu, tuberculosis, and diphtheria is boosting vaccination demand, providing market opportunities for manufacturers of vaccine packaging.
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Vaccine packaging market - Restraints
?One of the major market restraints is the lack of drug centralization, which creates a gap between the industry and regulating authorities.
? Further unpredictability in pharmaceutical industry regulations may hinder long-term business relationships and narrow the range of sales growth and opportunities.
COVID-19 Impact on the Vaccine packaging market
The COVID-19 boosted the growth of the market. According to the WHO, a total of 4.8 billion doses are expected for vaccines in 2019, up by almost 20 percent from last year thanks to expansion in the Asian and African markets. As people around the world pursue ways to successfully curb the transmission of COVID-19, the latest coronavirus pandemic has driven the market for vaccines to a record level. Colossal orders costing hundreds of millions of dollars are imposed by policymakers in multiple countries and fresh quotas for suppliers of vials and syringes are pegged. As a result, by developing manufacturing capability and penetrating their goods into untapped markets, main players are aiming to intensify their production volumes.
Competitive Landscape
Key suppliers concentrate on delivering tailored products according to consumer demand. The global competition for leading companies focuses on maximizing their development, expanding their reach internationally, and delivering sustainable solutions for packaging vaccines. In addition to looking for strategic advantage, as they await foreign corporate approvals, leading players concentrate on expanding their global presence. Johnson & Johnson reported that its phase three research showed that its vaccine was 66% effective overall in preventing COVID-19 and 85% effective in preventing serious cases of the disease. Some of the key manufacturers are Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson & Company, SCHOTT AG, SGD S.A., Catalent, Inc
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About the Study
The study offers readers a comprehensive assessment of the vaccine packaging market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on packaging type (Vials, Prefilled Syringes, Ampoules, Bags, and Pouches), material type (Plastic, Glass, Polystyrene, Others (Metallic Films)), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Global Vaccine Packaging Market Demand Analysis 2015-2019 and Forecast, 2020-2030
4.1. Historical Market Volume (Units) and Value (US$ Mn) Analysis, 2015-2019
4.2. Current and Future Market Volume (Units) and Value (US$ Mn) Projections, 2020-2030
5. Global Vaccine Packaging Market - Pricing Analysis
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights
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